Sterne Agee Maintains Neutral on F.N.B.

Sterne Agee is out with its report today on F.N.B. FNB, maintaining Neutral. In a note to clients, Sterne Agee writes, "F.N.B. completed a $63 million capital offering on May 18, 2011, and wasted no time putting the proceeds to work. We agree with F.N.B.'s strategy of utilizing its premium currency to continue to grow its franchise in a traditionally slow-growth market." Shares of FNB closed Wednesday at $10.32, down 1.15% from Tuesday's close.